Global Needle Free Injection System Market to Grow Significantly from USD 2,267 million in 2017 to USD 5,785 million in 2024, at a CAGR of 14.8% from 2018 to 2024

Industry : Press Releases Date :October 27th, 2018

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Global Needle Free Injection System Market

Global needle free injection system market is expected to grow significantly from USD 2,267 million in 2017 to USD 5,785 million in 2024, at a CAGR of 14.8% from 2018 to 2024. The growth in the market is attributed to the increasing demand for self-injection devices. Moreover, increasing prevalence of chronic diseases and high incidences of needle stick injuries is also expected to fuel the market growth during the forecast period. Additionally, emerging applications of needle free injection system in biosimilar, vaccination, and local anesthetics are projected to propel the market growth during 2018-2024.

Key findings of the report:

The global needle free injection system market is expected to reach USD 5,785 million in 2024, at a CAGR of 14.8% during 2018 -2024

On the basis of type, the liquid-based needle-free injectors segment held the major share of the market in 2017

On the basis of product, the prefilled needle-free injectors segment held the major of the market in 2017

In the technology segment, the jet injectors segment held the major share of the market in 2017. The growth is attributed to the technological advancements and growing research and development activities. Moreover, strong demand for faster drug delivery is further propelling the market growth in the segment.

Among various applications, the insulin delivery segment held the largest share of the market in 2017.The growth is attributed to growing demand for needle-free insulin delivery devices and increasing number of diabetic patients across the globe.

In the site of delivery segment, the subcutaneous injectors segment held the major share of the global market in 2017

Needle-free injection system emerging as an alternative to hypodermic needles

Injection is a common method for introducing drug, contraceptive, vaccine and other therapeutic agents into the patient’s body to cure and prevent diseases. However, there are various types of problems associated with the hypodermic needles used in injections, such as lack of reusability, high cost of needles and needle stick injuries. Many people avoid treatments due to needle phobia or fear of injection needles. These drawbacks have led to the development of alternative methods of drug delivery. The needle-free injection system has emerged as a safer, less painful and cost-effective alternative. The growing demand of needle-free injection system is primarily due increasing prevalence of chronic diseases such as diabetes and cancer across the globe.

Global Needle Free Injection System Market– Regional insight

Geographically, North America held the major share of the global needle free injection system market in 2017. The growth in the region is attributed to the increasing prevalence of chronic diseases and growing demand for self-injection devices. The growth of needle free injection system market in Europe is primarily attributed to growing government support for product approvals. Asia-Pacific is expected to witness the highest CAGR during the forecast period due to high incidence of needle stick injuries, and rapid technological advancements in drug delivery devices in the region.